Op Ed State Budget

Debt Donnybrook: Legislative Battle NY Needs

October 22, 2006

New York State's debt was projected to hit a historic high of $50 billion during the fiscal year ending March 31, 2007. To rein in runaway debt, CBC recommended that State leaders enact four high-priority reforms: 1) Stop issuing State-funded debt to cover operating deficits; 2) Make authorities' borrowing part of the State's capital plan; 3) Institutionalize rigorous financial review of authority borrowing; and 4) Reduce future debt for capital spending.

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